The tendency to underestimate the influence of external factors on another’s behavior and to overestimate the influence of internal factors is called the ___________.
Fill in the blank(s) with the appropriate word(s).
fundamental attribution error
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Which of the following is not a component of the traditional value chain?
A) inbound marketing programs B) raw materials C) product/services D) assets/core competencies
Washington Company's balance sheet as of December 31, Year 1 is provided below:Washington CompanyBalance SheetDecember 31, Year 1Assets? Cash$ 25,000 Accounts receivable 40,000 Inventory 45,000 Plant and equipment, net of depreciation 290,000Total assets$ 400,000??Liabilities and stockholders' equity? Accounts payable$ 50,000 Notes payable 40,000 Capital stock, no par 200,000 Retained earnings 110,000Total liabilities and stockholders' equity$ 400,000In anticipation of preparing the operating budget for the upcoming period, the firm's accountant has gathered the following information:(a) Sales are budgeted at $320,000 for January Year 2. Of these sales, half will be cash sales and half will be credit
sales. Eighty percent of the credit sales are collected in the month of sale and the remainder is collected in the next month. Therefore, all of the December 31 receivables will be collected in January.(b) Inventory purchases are expected to total $200,000 during January, all on account. Sixty percent of all purchases are paid for in the month of purchase and the remainder is paid in the following month. Therefore, all of the December 31 accounts payable will be paid during January. The inventory account is expected to have a $40,000 balance at January 31, Year 2.(c) Selling and administrative expenses for January are budgeted at $100,000 (exclusive of depreciation). S&A expenses are paid in cash. Depreciation is budgeted at $3,000 for the month.(d) The notes payable will be paid in April. There is no cash outflow related to the note in January.The sales manager wishes to purchase a new display case for the showroom during January if sufficient funds are available. The equipment has a cost of $9,000. Required:Can the company afford to purchase the display equipment without additional borrowing? Prepare a cash budget for January Year 2 to support your answer. Be sure to show your computations. What will be an ideal response?
Campus Bus Service entered into a contract with Smith Bus Company to purchase 10 buses. One week before Campus Bus was scheduled to receive the buses, a fire destroyed Smith's warehouse and the buses inside. As a result, Campus Bus had to purchase its buses at a slightly higher cost from another manufacturer. Campus Bus sues Smith Bus for damages for breach of contract under these circumstances. Assume Campus Bus did not bear the risk of loss of the goods under the contract. In this scenario, ________.
A. Smith Bus should not be excused from performance because it did not act in good faith B. Smith Bus can exercise its right of anticipatory repudiation C. Smith Bus should be excused from performance under the clause for the rights on improper delivery D. Smith Bus should be excused from performance under the test of commercial impracticability
If you are writing a solicited proposal, your goal in the background section is to convince the reader that a problem exists
Indicate whether the statement is true or false